New Delhi: Crisis-hit Kingfisher Airlines will face a crucial day on Wednesday. The management willmeet their lenders' consortium led by the State Bank of India (SBI) to convince them to put additional capital in the troubled airline.
Sources told CNN-IBN that the lenders will give further capital to Kingfisher only if the promoters make an additional equity infusionof over Rs 1500 crore. The other half could be funded by the banks.
Sources say that Kingfisher AirlinesChairman Vijay Mallya is looking atoptions to raise funds to increase his equity in the airline.
Top civil aviation ministry sources have confirmed that two of Kingfisher ATR aircraft were seized by the Directorate General of Civil Aviation (DGCA) and handed over to the leasing company after the lessors complained to the airline regulator.
The airline is facing pressure from more aircraft lessors who are demanding lease payments. Kingfisher has allegedly defaulted on these.
Sources say more companies have threatened to take aircraft back. If this happens, some of Kingfisher's international flights too may get hit. Some leasing companies are also worried about their aircraft, which according to sources are not in a good condition.
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